28.10.2008 - Dollar and yen benefit in crisis
From BBC: The US dollar and the Japanese yen are emerging as winning currencies in the global financial crisis. Both are considered safe havens because their banks have lent less than banks in other countries to emerging markets. In contrast, the main currency losers have been the euro and the British pound. Investors had been using dollar-denominated loans to invest elsewhere, but as the crisis has worsened cash-strapped banks and lenders have been calling in these loans, which has resulted in a scramble for dollars to pay them off..... Full Article: Source
Print